Source: Chris Scott, MEATINGPLACE, 2/18/19

U.S. farmers were more optimistic in January compared with December — at levels unseen since June of 2018 — according to the latest Purdue University/CME Group Ag Economy Barometer.

The latest reading of 143 was 16 points higher than December and the highest since June, when the barometer hit 153, the report noted. The January survey also was the first opportunity to measure farmer sentiment after USDA’s announcement that a second round of support payments would be made to soybean producers. Farmer sentiment also may have been positively affected by the passage of the 2018 Farm Bill, the report added.

Farmer sentiment increases in January primarily were driven by increases in both the Index of Current Conditions — up 17 percent to 132 — and the Index of Future Expectations, a 9-percent improvement from December and the highest value since February 2017.

The report also found the percentage of farmers expecting ag exports to decline over the next five years fell to just 7 percent versus 26 percent in December. 

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